In the first half of 2021, PetroChina saw its financial results going up.
Interim profit in the period was at CNY53.04 billion (USD8.18 billion), against a loss of CNY29.98 billion (USD4.6 billion) in the same period of 2020.
The positive result was on the back of climbing oil and gas prices, along with the recovery in Chinese fuel demand post the slump due to the coronavirus pandemic.
Revenue in the January-June period edged up by 29% to CNY1.197 trillion (USD184.7 billion). Capital expenditure (CAPEX) amounted to CNY73.9 billion (USD11.4 billion), lower by 1.2% than the same period a year ago and made up for 31% of the annual budget for 2021.
PetroChina’s oil and gas output fell by 1.7% year-on-year to 819.6 million boe as crude oil down by 6.8% but gas up by 5.1%.
Refinery throughput climbed by 6.7% to around 3.35 million bpd. Sales of gasoline, diesel, and kerosene combined inched up by 4.9% at 80.34 million tonnes.
Sales of gas domestically soared by 17.6% year-on-year to a record 96.25 bcm due to the robust demand growth from industries and power plants under a government push for less-polluting fuels.
